S&P 500 Jumps Above Resistance!

SPX- The benchmark S&P 500 index vaulted above resistance today after the ice broke in D.C… This has happened several times this year and reiterates how strong this market is. If the recent lows hold, this will be another normal and healthy pullback in both size (% decline) and scope (weeks, not months). It will also be a series of higher lows and higher highs (if we take out last month’s high). These healthy pullbacks offer favorable entry points in strong uptrends.

 

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